Simply Sold

Demand Along Light Rail Boosting Home Prices

June 16, 2016 by admin

A recent study by the Minneapolis Association of Realtors showed that many home buyers want access to public transportation. According to a recent study in Minneapolis, home next to or near the Metro Transit Blue Line Stations were not only priced higher, but also sold faster than the market as a whole.

Buyers according to this research want the option to own a car, or have the option of using a car every day. The study showed the same thing is happening to homes along the Metro Transit’s Green Line. Since the green line opened in 2014 in St. Paul, homes values along the green line performed better than St. Paul as a whole.

Development of housing along the transit lines is also growing, and developers are catering to the demand of housing along the lines. Projections estimate that over 11,000 apartments unit, condos, and homes will be added along the green line alone by 2030.